The Business Bytes
TBB BUREAU
BHUBANESWAR, AUG 22, 2021
Jindal Steel & Power Ltd (JSPL) Chairman Naveen Jindal oN Saturday called on Odisha Chief Secretary Suresh Chandra Mahapatra, and updated him about JSPL’s plan to expand its Angul steel plant’s capacity from 6 MTPA to 25.2 MTPA by 2030 which will be the largest plant in the world in a single location as per present capacities.
The JSPL chief thanked the Odisha Government for approving JSPL’s proposed expansion plan.
It may be recalled that the State High-Level Clearance Authority, headed by Chief Minister Naveen Patnaik, had approved the proposed expansion of JSPL’s Angul Steel Plant in July this year.
Jindal also had a meeting with Odisha Steel & Mines Secretary Deoranjan Kumar Singh.
Talking to the media after the meeting, the JSPL Chairman expressed confidence upon the Odisha government for its industry-friendly policies of protecting the interests of the state-based value addition creator industries, and appreciated the existing pre-emption policy of the State government for ensuring raw materials to steel industries operating in the State.
He also lauded the efforts by the State government to conduct the auction of iron ore blocks in a transparent and expeditious manner.
In the next ten years, the Company would increase its investment in the State to more than Rs 1,00,000 crore. The expansion is expected to generate enormous economic activity and employment opportunities in the State.
JSPL Managing Director VR Sharma, Director (Finance) NK Mishra, Manish Kharbanda and other senior officials accompanied Jindal in the meeting.
On being asked about participating in upcoming auctions JSPL Managing Director VR Sharma said, “JSPL will participate in the forthcoming auction of the iron ore mines in Odisha. Irrespective of the outcome of the auction, we are confident that the state government would make all out efforts to protect the raw material security for industrial units in Odisha and promote the value addition of the raw material within the State under its pre-emption scheme.”
Presently, JSPL is the largest investor in Odisha in the Iron & Steel Sector with an investment of over Rs. 45,000 crore.
The Company has set up a 6 MTPA steel plant at Angul, the largest in Odisha and a 9 MTPA pellet plant at Barbil, the biggest in the country.
Recently JSPL has been honoured by the Government of India for being the highest GST payer of Odisha and Chhattisgarh in the private sector category.
JSPL EVP (Corporate Affairs) Bibhu Prasad Mishra, Vice-President Ashish Pandey and President (CSR & Sustainability) Prashant Hota were also present on the occasion.
